Editing Vonage (section)

==History==
[[File:Vonage logo until 2006.png|thumb|right|Vonage logo until 2006]]
Min-X.com was founded by [[Jeff Pulver]] in 1998 as a [[Voice over IP]] (VOIP) exchange. He recruited [[Jeffrey A. Citron]] and Carlos Bhola, who each invested $1 million and joined as board members. Citron and Bhola then raised approximately $11 million in additional funding, pivoted the company to being a VOIP service provider, and Citron took over as CEO and Bhola as President.<ref name="TC2008">{{Cite news |last=Takahashi |first=Dean |date=19 March 2008 |title=Updated: Jeff Pulver's world full of voices |url=https://venturebeat.com/2008/03/19/jeff-pulvers-world-full-of-voices/ |work=VentureBeat}}</ref><ref name="NYTimesJun06">{{Cite news |last=Richtel |first=Matt |date=June 3, 2006 |title=Is Vonage Sinking Or Coming Up for Air?; Stock's Dive at Debut Is Among the Deepest Seen in Recent Years |url=https://query.nytimes.com/gst/fullpage.html?res=990CE1DB1731F930A35755C0A9609C8B63&pagewanted=all |work=New York Times}}</ref> The company changed its name to Vonage Holdings Corp. in 2001.<ref name="S1">{{Cite web |date=23 May 2006 |title=Amendment No. 8 to Form S-1 |url=https://www.sec.gov/Archives/edgar/data/1272830/000104746906007536/a2169686zs-1a.htm |publisher=Vonage via SEC Edgar}} 
 [https://www.sec.gov/Archives/edgar/data/1272830/000104746906007536/0001047469-06-007536-index.htm Filing detail page]</ref>{{rp|90}}  When the name was changed the company was located in [[Edison, New Jersey]].<ref name="njbiz">{{Cite news |date=November 20, 2013 |title=You'll never guess how Vonage co-founder Jeff Pulver got his start |url=http://www.njbiz.com/article/20131120/NJBIZ01/131129978/youll-never-guess-how-vonage-cofounder-jeff-pulver-got-his-start |work=NJBIZ}}</ref> In 2005, the organization relocated its headquarters to [[Holmdel Township, New Jersey|Holmdel]], New Jersey.<ref name="vmove">{{Cite web |last=Colella |first=Joanne |date=2005-05-12 |title=Vonage moves corporate headquarters |url=http://www.vonage.com/corporate/press_news.php?PR=2005_05_12_0 |archive-url=https://web.archive.org/web/20060408005213/http://www.vonage.com/corporate/press_news.php?PR=2005_05_12_0 |archive-date=2006-04-08 |publisher=Vonage.com}}</ref>  Pulver left the company in 2002 to start another VOIP venture.<ref name=TC2008/>

The company first offered subscription service in the [[United States]], then expanded to [[Canada]] in 2004 and the [[United Kingdom]] in 2005. Vonage went public on May 24, 2006.<ref name="Vonage Investor Relations FAQs">{{Cite web |title=Vonage Investor Relations FAQs |url=http://ir.vonage.com/stockquote.cfm |url-status=dead |archive-url=https://web.archive.org/web/20160417030304/http://ir.vonage.com/stockquote.cfm |archive-date=2016-04-17 |website=Vonage.com}}</ref>

=== Initial public offering ===
[[Image:Vonage Technology Center building in Holmdel.jpg|thumb|right|The Vonage building in Holmdel, New Jersey]]

In 2006, in preparation for an initial public offering, Michael Snyder, former president of [[The ADT Corporation|ADT Security Services]] replaced Vonage co-founder Citron as the organization's CEO.<ref>{{Cite web |last=Reardon, Marguerite |title=Vonage shuffles management |url=https://www.cnet.com/news/vonage-shuffles-management/ |access-date=2016-04-26 |website=CNET}}</ref> Citron could not preside over the [[IPO]] because he was permanently barred from associating with any securities brokers or dealers.<ref>{{Cite web |last=Shaw, Russell |date=2005-08-25 |title=Report: Vonage CEO's past woes won't block Vonage going public |url=https://www.zdnet.com/article/report-vonage-ceos-past-woes-wont-block-vonage-going-public/ |access-date=2016-05-08 |website=ZDNet}}</ref><ref>{{Cite web |date=2003-02-06 |title=Administrative Proceeding File No. 3-11031 In the Matter of Jeffrey A. Citron |url=https://www.sec.gov/litigation/admin/34-47323.htm |access-date=2016-05-08 |website=SEC}}</ref><ref>{{Cite web |last=Barboza, David |date=2003-01-15 |title=Online Brokers Fined Millions In Fraud Case |url=https://www.nytimes.com/2003/01/15/business/online-brokers-fined-millions-in-fraud-case.html |access-date=2016-05-08 |website=New York Times}}</ref><ref>{{Cite web |last=Boorstin, Julia |date=2004-03-01 |title=Talk Gets Cheaper: Jeffrey Citron's last venture got him banished from trading stocks. Now he's getting aggressive in a hot new industry-routing phone calls over the Internet. |url=https://money.cnn.com/magazines/fsb/fsb_archive/2004/03/01/363892/ |access-date=2016-05-08 |website=CNN}}</ref> In 2007, in a restructuring effort to reduce ongoing net losses in the face of double-digit stock price slips and patent infringement issues, Snyder resigned, and Citron returned as interim CEO.<ref>{{Cite web |last=Weiss |first=Todd |date=April 12, 2007 |title=Vonage CEO resigns, Company Moves to Cut Costs |url=http://www.computerworld.com/s/article/9016340/Vonage_CEO_resigns_Company_moves_to_cut_costs_?taxonomyId=16&taxonomyName=networking_and_internet |website=[[Computerworld.com]]}}</ref> The company announced plans for 10% layoffs as it secured $215 million in financing.<ref>{{Cite web |last=Gardner |first=W. David |date=April 12, 2007 |title=Vonage Prepares To Cut Workforce 10% |url=http://www.informationweek.com/hardware/showArticle.jhtml?articleID=199000539&subSection=Telecom |website=[[InformationWeek]]}}</ref>

Vonage offered shares of its stock to its existing customer base in the period before the initial public offering.<ref>{{Cite web |title=Vonage {{!}} Investor Relations {{!}} Stock Information {{!}} Stock Quote & Chart |url=http://ir.vonage.com/stockquote.cfm |url-status=dead |archive-url=https://web.archive.org/web/20160417030304/http://ir.vonage.com/stockquote.cfm |archive-date=2016-04-17 |access-date=2016-04-26 |website=ir.vonage.com}}</ref> Under normal circumstances, only large institutional investors such as banks are able to buy shares of an IPO.<ref>{{Cite web |title=Initial Public Offerings |url=http://www.investorguide.com/igu-article-821-stock-basics-initial-public-offerings.html |url-status=dead |archive-url=https://web.archive.org/web/20121113132426/http://www.investorguide.com/igu-article-821-stock-basics-initial-public-offerings.html |archive-date=2012-11-13 |website=Investorguide.com}}</ref> Vonage's initial public offering occurred on the [[New York Stock Exchange]] on May 24, 2006, opening at $17 per share.<ref name="Vonage Investor Relations FAQs" /> The price closed at $14.85, a decrease of 12.7 percent, the worst trading day for any [[Initial public offering|IPO]] in 2006 up to that point. The IPO raised $531 million for the company. However, the existing customers who lost money filed a [[class action]] lawsuit.<ref>{{Cite web |last=Reardon |first=Marguerite |date=2006-06-04 |title=Investors sue Vonage over IPO – CNET News |url=http://news.cnet.com/2100-1036_3-6079765.html |url-status=dead |archive-url=https://web.archive.org/web/20121104141751/http://news.cnet.com/2100-1036_3-6079765.html |archive-date=2012-11-04 |access-date=2016-04-21 |website=[[CNET News]]}}</ref> The IPO and its immediate aftermath also earned Vonage a ''[[Business 2.0]]'' Magazine award as 14th of 101 Dumbest Moments in Business for 2006.<ref>{{Cite web |last1=Horowitz |first1=A. |last2=Jacobson |first2=D. |last3=McNichol |first3=T. |last4=Thomas |first4=O. |date=March 7, 2007 |title=101 Dumbest Moments in Business |url=http://money.cnn.com/magazines/business2/business2_archive/2007/02/01/8398990/index.htm |url-status=dead |archive-url=https://web.archive.org/web/20070309130037/http://money.cnn.com/magazines/business2/business2_archive/2007/02/01/8398990/index.htm |archive-date=2007-03-09 |access-date=2009-04-11 |website=[[CNN.com]] |language=en}}</ref> In 2009, Vonage reached an agreement with the IPO investors. All shareholder claims against Vonage and its individual directors and officers who were named as defendants were dismissed.<ref>{{Cite web |last=Weinberger, Evan |date=2009-06-18 |title=Vonage Says Deal Pending In Shareholder IPO Suit |url=http://www.law360.com/articles/107066/vonage-says-deal-pending-in-shareholder-ipo-suit |access-date=2016-05-08 |website=Law360}}</ref><ref>{{Cite web |title=Vonage Holdings Corporation Securities Litigation |url=http://securities.stanford.edu/filings-case.html?id=103622 |access-date=2016-05-08 |website=Stanford Law}}</ref> The amount of the settlement, $3.6 million, was paid by an insurance policy covering the directors and officers of the company.<ref>{{Cite web |date=24 May 2006 |title=Vonage To Settle Shareholder Suit Over IPO |url=http://www.thestreet.com/story/10519948/1/vonage-to-settle-shareholder-suit-over-ipo.html |access-date=2016-04-26 |website=TheStreet |language=en-US}}</ref><ref name="pr.vonage.com">{{Cite web |title=Vonage Holdings Corp. Announces Agreement in Principle to Settle IPO |url=http://pr.vonage.com/releasedetail.cfm?releaseid=390447 |url-status=dead |archive-url=https://web.archive.org/web/20160306224018/http://pr.vonage.com/releasedetail.cfm?releaseid=390447 |archive-date=2016-03-06 |access-date=2016-05-08 |website=Vonage.com}}</ref><ref>{{Cite web |title=In Re Vonage Initial Public Offering (IPO) Securities Litigation |url=http://securities.stanford.edu/filings-documents/1036/VG_01/2009915_m_0700177.pdf}}</ref>

The firms underwriting the IPO, [[Citigroup]], [[UBS]], and [[Deutsche Bank]], were fined a total of $845,000 and ordered to reimburse customers for "failure to adequately supervise communications" with investors.<ref>{{Cite news |last=Shwiff |first=Kathy |date=September 24, 2009 |title=Citi, UBS, Deutsche Fined Over Vonage IPO |url=https://www.wsj.com/articles/SB125363508003831103 |work=[[Wall Street Journal]]}}</ref> NYSE regulators went so far as to investigate possible short-selling.<ref name="reutersSep22">{{Cite news |date=September 22, 2009 |title=Citi, UBS, Deutsche Bank fined over Vonage IPO |url=https://www.reuters.com/article/finra-vonage-fines-idUSN2233495620090922 |work=[[Reuters.com]]}}</ref>

===Acquisitions===
[[Image:Nexmo, the Vonage API platform, presented at RISE 2018 conference.jpg|thumb|right|Presentation of Nexmo, an acquisition that became the Vonage API platform, during a 2018 conference]]
Beginning in 2013, Vonage acquired several companies as it refocused its business from a home phone provider to a global business cloud communications provider, including:<ref>{{Cite web|last=Hall|first=Brian S.|date=2015-08-13|title=How Vonage is dialing up big money by pivoting to enterprise|url=https://gigaom.com/2015/08/13/how-vonage-is-dialing-up-big-money-by-pivoting-to-the-enterprise/,%20https://gigaom.com/2015/08/13/how-vonage-is-dialing-up-big-money-by-pivoting-to-the-enterprise/|access-date=2021-08-20|website=gigaom.com|language=en-US}}{{Dead link|date=August 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{Cite web |last=Kerravala |first=Zeus |date=2016-07-26 |title=Vonage's cloudy strategy is now clear |url=https://www.networkworld.com/article/3100409/vonages-cloudy-strategy-is-now-clear.html |access-date=2021-08-20 |website=Network World |language=en}}</ref><ref>{{Cite web |title=Vonage Solidifies Platform Story {{!}} No Jitter |url=https://www.nojitter.com/vendor-strategy/vonage-solidifies-platform-story |access-date=2021-08-20 |website=www.nojitter.com |date=4 November 2019 |language=en}}</ref>
* Vocalocity, a [[software as a service]] (SaaS) provider of cloud-based communications services, for $130 million;<ref name="AtlantaBusChronOct13">{{Cite news |last=Karkaria |first=Urvaksh |date=October 10, 2013 |title=Vonage picks up Atlanta's Vocalocity for $130M |url=http://www.bizjournals.com/atlanta/blog/atlantech/2013/10/vonage-picks-up-atlantas-vocalocity.html |work=Atlanta Business Chronicle}}</ref>
* [[Telesphere]], a unified communications as a service (UCaaS) provider to large companies, for $114 million;<ref name="PhoenixBusJournalNov14">{{Cite news |last=Ringle |first=Hayley |date=November 7, 2014 |title=Vonage acquiring Scottsdale's Telesphere for $114 million |url=http://www.bizjournals.com/phoenix/blog/techflash/2014/11/vonage-acquiring-scottsdales-telesphere-for-114.html |work=Phoenix Business Journal}}</ref>
* [[iCore Networks]], also a UCSaaS provider to large companies, for $92 million;
* {{anchor|SimpleSignal}}SimpleSignal, another UCSaaS service provider to small and medium-sized businesses, for $25 million;<ref name="DenPostApr15">{{Cite news |last=Chuang |first=Tamara |date=April 1, 2015 |title=Vonage buys Denver's SimpleSignal in move to dominate business VoIP |url=http://www.denverpost.com/business/ci_27831288/vonage-buys-denvers-simplesignal-move-dominate-business-voip |work=Denver Post}}</ref><ref name="TalkinCloudMar15">{{Cite news |last=Koblalka |first=Dan |date=March 16, 2015 |title=Vonage Buys SimpleSignal for $25.25 Million |url=http://talkincloud.com/telco-hub/03162015/vonage-buys-simplesignal-2525-million |url-status=dead |archive-url=https://web.archive.org/web/20171016231119/http://talkincloud.com/telco-hub/03162015/vonage-buys-simplesignal-2525-million |archive-date=October 16, 2017 |access-date=January 29, 2016 |work=Talkin' Cloud}}</ref>
* {{proper name|gUnify}}, also a cloud-based communications service provider to businesses (price not disclosed).<ref name="CNNMoneyJune15">{{Cite news |last=La Monica |first=Paul |date=June 1, 2015 |title=Woo Hoo Hoo! Former Google exec wants to turn around Vonage |url=https://money.cnn.com/2015/06/01/investing/vonage-ceo-google/ |work=CNN Money}}</ref><ref name="FierceTelecomAug15">{{Cite news |last=Buckley |first=Sean |date=August 20, 2015 |title=Vonage acquires iCore Networks for $92M, enhances UC strategy |url=http://www.channelpartnersonline.com/news/2015/11/business-services-acquisitions-drive-vonage-reven.aspx |url-status=dead |archive-url=https://web.archive.org/web/20170510065101/http://www.channelpartnersonline.com/news/2015/11/business-services-acquisitions-drive-vonage-reven.aspx |archive-date=May 10, 2017 |access-date=January 29, 2016 |work=Fierce Telecom}}</ref><ref name="ChannelPartnersNov15">{{Cite news |last=Galbraith |first=Craig |date=November 4, 2015 |title=Business Services, Acquisitions Drive Vonage Revenue Up |url=http://www.inc.com/john-brandon/simplify-your-it-4-apps-to-try.html |work=Channel Partners}}</ref>
* Nexmo, the 2nd largest CPaaS company, for $250 million;<ref>{{Cite press release |title=Vonage Holdings Corp. to Acquire Nexmo, Inc., Second Largest CPaaS Company Globally |url=http://www.prnewswire.com/news-releases/vonage-holdings-corp-to-acquire-nexmo-inc-second-largest-cpaas-company-globally-300263581.html |last1=Corp. |first1=Vonage Holdings |access-date=2016-11-02 |website=www.prnewswire.com}}</ref>
*[[TokBox]], a [[WebRTC]] programmable video provider, for $35 million.<ref name="ZDNetAug18">{{Cite news |last=Gagliordi |first=Natalie |date=August 1, 2018 |title=Vonage buys WebRTC player TokBox or $35 million |url=https://www.zdnet.com/article/vonage-buys-webrtc-player-tokbox-for-35-million/ |work=ZDNet}}</ref>
*NewVoiceMedia, a Contact Center as a Service (CCaaS) provider, for $350 million <ref>{{Cite web |title=Vonage Stories |url=https://www.vonage.com/about-us/vonage-stories/ |website=www.vonage.com}}</ref>
*Over.ai, a Voice and Conversational AI provider for enterprise communications <ref>{{Cite web |date=August 6, 2019 |title=Vonage acquires conversational AI startup Over.ai's team and intellectual property |url=https://venturebeat.com/2019/08/06/vonage-acquires-conversational-ai-startup-over-ais-team-and-intellectual-property/}}</ref>

=== Acquisition by Ericsson ===
On 22 November 2021, it was announced that Vonage would be acquired by [[Ericsson]] in a US$6.2 billion all-cash purchase.<ref>{{Cite news |last1=Mukherjee |first1=Supantha |last2=Soderpalm |first2=Helena |date=November 22, 2021 |title=Sweden's Ericsson snaps up cloud firm Vonage in $6.2 bln deal |url=https://www.reuters.com/business/media-telecom/ericsson-buy-cloud-firm-vonage-62-bln-2021-11-22/ |work=[[Reuters]]}}</ref><ref>{{Cite press release |title=Ericsson to acquire Vonage for USD 6.2 billion to spearhead the creation of a global network and communication platform for open innovation |date=November 22, 2021 |url=https://www.ericsson.com/en/press-releases/2021/11/ericsson-to-acquire-vonage-for-usd-6.2-billion-to-spearhead-the-creation-of-a-global-network-and-communication-platform-for-open-innovation |website=www.ericsson.com}}</ref> The acquisition was completed on 21 July 2022.<ref name="ericsson">{{Cite news |last=Mukherjee |first=Supantha |date=July 21, 2022 |title=Ericsson closes $6.2 bln Vonage deal after short delay |url=https://www.reuters.com/markets/deals/ericsson-closes-62-bln-vonage-deal-after-short-delay-2022-07-21/ |url-status=live |archive-url=https://web.archive.org/web/20220721182406/https://www.reuters.com/markets/deals/ericsson-closes-62-bln-vonage-deal-after-short-delay-2022-07-21/ |archive-date=July 21, 2022 |work=[[Reuters]]}}</ref> According to the press release, Ericsson acquired all of Vonage's outstanding shares at an all-cash price of US$21 per share, a 28% premium.
The acquisition was financed through Ericsson's existing cash resources, which amounted to SEK 88 billion as of 30 September 2021 on a gross basis, and SEK 56 billion on a net basis as of the same date.

Vonage became a wholly owned subsidiary of Ericsson but continues to operate under its existing name and reported as a separate segment in Ericsson accounts. Vonage's employees remained with the company and the Vonage CEO [[Rory Read]] joined the Executive Team of Ericsson, reporting to CEO, [[Börje Ekholm]].

In February 2024, Niklas Heuveldop was appointed Head of Business Area Global Communications Platform, a new Business Area within Ericsson, and CEO of Vonage.